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You are given the following information for Golden Fleece Financial: Long-term debt outstanding: $ 360,000 Current yield to maturity (rdebt): 9% Number of shares of
You are given the following information for Golden Fleece Financial: Long-term debt outstanding: $ 360,000 Current yield to maturity (rdebt): 9% Number of shares of common stock: 13,000 Price per share: $ 50.60 Book value per share: $ 31 Expected rate of return on stock (requity): 16% Calculate Golden Fleece's company cost of capital.
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